Strategy (STRF) Stock: Will the $2.1B STRF Sale Power More BTC Buys?

TLDR

MicroStrategy’s STRF Stock Climbs 2.5% Amid $2.1B Bitcoin-Backed Offering Strategy Rolls Out $2.1B STRF ATM Sale to Fund Bitcoin Push STRF Rises as Strategy Doubles Down on Bitcoin with $764.9M Buy $2.1B Capital Raise to Boost Strategy’s $84B Bitcoin Treasury Vision Strategy’s Preferred Stock Sale Spurs Market Activity and BTC Hoard Growth

Over the past five days, Strategy, formerly known as MicroStrategy stock, posted a 2.5% gain, showing steady investor interest. The stock moved sideways early in the week before spiking to $102.69 on May 21. However, it later pulled back to around $100 following the announcement of a new preferred stock offering.

Strategy (STRF)

The movement coincides with the firm’s announcement of a $2.1 billion at-the-market (ATM) sale of its Series A Perpetual Strife Preferred Stock. This preferred stock, STRF, is designed to support general corporate needs, including more Bitcoin purchases. The sale will occur gradually, based on market pricing and trading volume.

BREAKING:

SAYLOR’D STRATEGY TO SELL UP TO
$2.1 BILLION OF 10% PREFERRED STOCK.

SAYLOR ISN'T STOPPING !! pic.twitter.com/UZk7DalaYM

— Ash Crypto (@Ashcryptoreal) May 22, 2025

MicroStrategy, rebranded as Strategy, continues its aggressive Bitcoin acquisition strategy. The stock fluctuations mirror investor reactions to the company’s broader capital deployment strategy. Despite intraday volatility, STRF remains near its short-term peak, signaling cautious support from the market.

$2.1B Offering Set to Fund Bitcoin Strategy and Working Capital

Strategy announced its plans to sell up to $2.1 billion in STRF shares through an at-the-market sales agreement. The offering will follow a measured pace, based on market conditions and trading activity at the time of each transaction. The company filed a prospectus supplement with the SEC to enable the offering.

Proceeds from this program will help fund general operations and increase the firm’s Bitcoin holdings. The ATM structure allows the company to raise capital flexibly without pressure on the market. The STRF offering aligns with Strategy’s broader goal of using diversified securities to expand its BTC reserves.

According to Strategy, the sale may include negotiated deals or block trades, depending on prevailing market factors. This structure ensures efficiency and capital optimization while maximizing the firm’s value. STRF shares will be available only under the terms outlined in the official prospectus supplement filed on May 22.

Ongoing Bitcoin Acquisitions Signal Strong Treasury Commitment

Earlier this week, Strategy confirmed it purchased 7,390 BTC for $764.9 million between May 12 and May 18. The acquisition used proceeds from STRF and STRK preferred stock offerings and MSTR common stock sales. The average purchase price for this tranche stood at $103,498 per BTC.

This new addition raised Strategy’s total holdings to 576,230 BTC, valued at over $64 billion based on current market prices. The firm’s Bitcoin portfolio was acquired at an average cost of $69,726 per BTC. This implies over $23.8 billion in unrealized gains, showing the long-term potential of its treasury model.

Strategy now owns over 2.7% of Bitcoin’s total 21 million supply. The firm continues to position itself as a Bitcoin-first treasury company. The current capital raise supports its ongoing accumulation plan, including its expanded $84 billion “42/42” initiative.

Future Plans Extend to Larger Capital Raising Targets

The STRF offering builds on the earlier “21/21” plan, initially targeting $42 billion in capital for Bitcoin acquisitions. Strategy has doubled its target to $84 billion, combining equity, convertible notes, and preferred stock. The move aims to reinforce the firm’s position as a leader in Bitcoin-based finance.

Its perpetual preferred shares, STRF and STRK, play key roles in this expansion strategy. These instruments allow Strategy to diversify its capital sources while aligning with investor demand for crypto exposure. The firm continues to balance risk and opportunity while executing its long-term strategy.

As Strategy advances, market observers remain focused on how additional Bitcoin buys may influence BTC prices and stock performance. While the market has responded with moderate optimism, future capital deployment and Bitcoin market trends will likely guide investor sentiment.

 

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